Profund Advisors LLC reduced its position in shares of Biogen Inc (NASDAQ:BIIB) by 8.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,503 shares of the biotechnology company’s stock after selling 5,741 shares during the period. Biogen comprises about 0.7% of Profund Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Profund Advisors LLC’s holdings in Biogen were worth $14,384,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of BIIB. Gargoyle Investment Advisor L.L.C. acquired a new stake in shares of Biogen during the 2nd quarter worth approximately $502,000. Banco de Sabadell S.A acquired a new position in shares of Biogen in the second quarter valued at about $5,615,000. Parametric Portfolio Associates LLC grew its stake in shares of Biogen by 0.3% in the second quarter. Parametric Portfolio Associates LLC now owns 599,311 shares of the biotechnology company’s stock valued at $140,161,000 after acquiring an additional 1,738 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Biogen by 43.1% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 40,500 shares of the biotechnology company’s stock valued at $9,472,000 after acquiring an additional 12,200 shares in the last quarter. Finally, H2O AM LLP grew its stake in shares of Biogen by 21.2% in the second quarter. H2O AM LLP now owns 41,286 shares of the biotechnology company’s stock valued at $9,656,000 after acquiring an additional 7,225 shares in the last quarter. Hedge funds and other institutional investors own 86.55% of the company’s stock.

BIIB traded down $3.65 during midday trading on Thursday, reaching $232.31. The company had a trading volume of 1,953,458 shares, compared to its average volume of 1,801,917. The company has a quick ratio of 2.22, a current ratio of 2.46 and a debt-to-equity ratio of 0.49. Biogen Inc has a 1 year low of $215.77 and a 1 year high of $358.41. The business has a 50-day moving average of $231.19 and a two-hundred day moving average of $243.05. The company has a market cap of $42.42 billion, a P/E ratio of 8.87, a P/E/G ratio of 0.84 and a beta of 1.01.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.58 by $1.57. Biogen had a return on equity of 44.89% and a net margin of 37.62%. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter last year, the business posted $5.80 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. On average, equities research analysts predict that Biogen Inc will post 32.38 EPS for the current year.

Several equities research analysts recently weighed in on BIIB shares. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Biogen in a research report on Friday, July 26th. BidaskClub raised shares of Biogen from a “sell” rating to a “hold” rating in a research report on Thursday. Wedbush started coverage on shares of Biogen in a research report on Wednesday, May 22nd. They set a “neutral” rating and a $231.00 price objective for the company. Royal Bank of Canada set a $242.00 price objective on shares of Biogen and gave the stock a “hold” rating in a research report on Friday, September 6th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Biogen in a research report on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and five have assigned a buy rating to the company. Biogen presently has an average rating of “Hold” and an average price target of $270.00.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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